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By Malinvaud E & Bacharach M

ISBN-10: 0333406265

ISBN-13: 9780333406267

ISBN-10: 1349084611

ISBN-13: 9781349084616

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Extra info for Activity Analysis in the Theory of Growth and Planning: Proceedings of a Conference held by the International Economic Association

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We have found that with any proportional growth activity with the maximal growth factor fL *, one can associate a price system Pto p 2 , r = fL*- 1 which sustains that activity. It is worth looking at the reverse question: Suppose one has obtained a proportional growth activity (x', y') = (x', fL'x') with fl- > 0 and a price system p~ ~ 0, p~ ~ 0 (not both = 0), r' = fl1 which sustains it, in the sense that 7T'(x, y) = p~y 1 + p~y2 - fL'(p~x 1 + p~x2) ;;;::; 0 for all feasible activities (x, y).

RATES OF GROWTH IN VON NEUMANN VALUE To associate a numerical growth rate or factor with a step or a sequence of steps in a commodity space of at least two dimensions, one has to reduce a comparison of two vectors to a scalar measure of 'growth'. In von Neumann's discussion this is done by considering only proportional growth, the factor of proportionality providing the wanted scalar. We now observe that the prices p = (P~> p 2 ) found as a by-product of the study of maximal proportional growth can be used to extend this scalar to non-proportional growth.

Ober ein i:ikonomisches Gleichungs-System und eine Verallgemeinerung des Brouwerschen Fixpunktsatzes ', in Menger, K. ), Ergebnisse eines Mathematischen Kolloquiums, no. 8, 1937. Translated as 'A model of general equilibrium', Review of Economic Studies, vol. XIII, no. 1, 1945-46, pp. 1-9. Wald, A. (1935). 'Ober die eindeutige positive Li:isbarkeit der neuen Produktionsgleichungen (Mitteilung I)', Ergebnisse eines Mathematischen Kolloquiums, vol. 6, pp. 12-18. - - (1936a). 'Ober die Produktionsgleichungen der i:ikonomischen Wertlehre (Mitteilung II)', Ergebnisse eines Mathematischen Kolloquiums vol.

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Activity Analysis in the Theory of Growth and Planning: Proceedings of a Conference held by the International Economic Association by Malinvaud E & Bacharach M

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